Evergreen Capital Management LLC Has $318,000 Position in Rockwell Automation, Inc. $ROK

Key Points

• Evergreen Capital Management LLC reduced its holdings in Rockwell Automation by 44.4%, selling 984 shares during the 1st quarter, which left them with 1,230 shares valued at $318,000.
• Rockwell Automation reported a quarterly earnings per share (EPS) of $2.82, exceeding analyst expectations of $2.67, with revenues of $2.14 billion for the quarter.
• The company declared a quarterly dividend of $1.31 per share, indicating an annualized dividend yield of 1.6%, to be paid on September 10th to shareholders of record on August 18th.

Evergreen Capital Management LLC lowered its position in Rockwell Automation, Inc. (NYSE:ROK - Free Report) by 44.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,230 shares of the industrial products company's stock after selling 984 shares during the quarter. Evergreen Capital Management LLC's holdings in Rockwell Automation were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Magnetar Financial LLC acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $2,824,000. Canada Pension Plan Investment Board lifted its stake in shares of Rockwell Automation by 84.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 147,659 shares of the industrial products company's stock worth $38,152,000 after buying an additional 67,725 shares during the last quarter. Tema Etfs LLC lifted its stake in shares of Rockwell Automation by 32.0% during the 1st quarter. Tema Etfs LLC now owns 42,127 shares of the industrial products company's stock worth $10,885,000 after buying an additional 10,215 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Rockwell Automation during the 1st quarter worth about $5,149,000. Finally, Lansdowne Partners UK LLP lifted its stake in shares of Rockwell Automation by 156.6% during the 1st quarter. Lansdowne Partners UK LLP now owns 15,727 shares of the industrial products company's stock worth $4,064,000 after buying an additional 9,598 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company's stock.

Wall Street Analysts Forecast Growth

ROK has been the topic of a number of recent research reports. KeyCorp raised their price target on shares of Rockwell Automation from $370.00 to $380.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer lowered their price target on shares of Rockwell Automation from $371.00 to $363.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Bank of America raised shares of Rockwell Automation from a "neutral" rating to a "buy" rating and raised their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. Wells Fargo & Company set a $345.00 target price on shares of Rockwell Automation and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Citigroup reissued a "buy" rating and issued a $392.00 target price (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $340.16.

Insider Buying and Selling at Rockwell Automation

In other news, SVP Cyril Perducat sold 1,435 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.08, for a total value of $499,494.80. Following the transaction, the senior vice president owned 3,787 shares in the company, valued at approximately $1,318,178.96. The trade was a 27.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James P. Keane sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $356.06, for a total transaction of $1,068,180.00. Following the completion of the transaction, the director owned 9,192 shares in the company, valued at $3,272,903.52. This trade represents a 24.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,445 shares of company stock worth $3,267,779 over the last quarter. Insiders own 0.68% of the company's stock.

Rockwell Automation Price Performance

Rockwell Automation stock traded down $2.61 during mid-day trading on Friday, reaching $339.26. The company had a trading volume of 539,564 shares, compared to its average volume of 831,771. Rockwell Automation, Inc. has a fifty-two week low of $215.00 and a fifty-two week high of $360.92. The company has a current ratio of 1.06, a quick ratio of 0.72 and a debt-to-equity ratio of 0.72. The company has a market cap of $38.14 billion, a P/E ratio of 39.82, a P/E/G ratio of 3.52 and a beta of 1.41. The business has a fifty day simple moving average of $345.38 and a 200 day simple moving average of $302.21.

Rockwell Automation (NYSE:ROK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the company earned $2.71 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Rockwell Automation, Inc. will post 9.35 earnings per share for the current year.

Rockwell Automation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $1.31 per share. The ex-dividend date is Monday, August 18th. This represents a $5.24 annualized dividend and a yield of 1.5%. Rockwell Automation's dividend payout ratio (DPR) is currently 61.50%.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.